Mish the Optimist?

Never thought I'd say that, but consider...

May 25, 2009
Jobless Graduates Face Dismal Jobs Market

Okay, the headline isn't all that optimistic. I'll grant you that.

Graduates hoping to become Wall Street wunderkinds or commercial real estate tycoons better be thinking about Plan B. Other than those with specialties in bankruptcy, the Plan A jobs simply are not there.

He's not all that optimistic about Plan A and Plan B. I'll grant you that too.

Moreover, those who waste too much time pursuing jobs that are not available are likely to end up in Plan C, working at Starbucks.

There's way too much optimism about Plan C though. In his defense, perhaps Plan C was intended to be symbolic and I'm just taking it way too literally?

May 26, 2009
A Fan Hits a Roadblock on Drive to See Every Starbucks

A man on a mission to visit every Starbucks in the world has a problem: Starbucks Corp. is closing scores of stores he has yet to visit.

The freelance software programmer, 37 years old, calls himself Winter. He was on a job in Wisconsin last month when he learned that a Starbucks in Prince George, British Columbia, would close the next day. He spent $1,400 to jet there for a cup of coffee -- sugar, no cream -- and a photograph.

"If the store closed before I visited, I would lose another piece of my soul," Winter says.

Imagine spending $1,400 to buy a cup of coffee but not actually getting it? Oh the humanity! You really have to sympathize with Winters. This downturn is likely to cost him yet another piece of his soul. By the looks of it, there isn't much soul left to lose. Further, you just can't put a price on unsecured souls these days.

May 14, 2009
Moody's lowers Starbucks debt rating

Moody's Investors Service has lowered its rating on Starbucks Corp.'s $550 million senior unsecured notes to just above junk, citing the Seattle-based coffee retailer's challenge of refocusing its business amid the recession without "significantly damaging" its brand.

We're All "Just Above Junk" Now!

Same-store sales, or sales at stores open at least a year, fell 8 percent both worldwide and in the U.S. That was a slight improvement from the prior quarter when Starbucks' global same-store sales fell 9 percent and U.S. same-store sales declined 10 percent.

The ship was sinking at a 9 to 10 percent rate and now it is only sinking at an 8 percent rate? Oh happy days!

If you are a passenger, please enjoy this complimentary party hat!

If you are a member of the general crew, please rearrange the deck chairs so that there is a clear path to the life boats. Don't forget to keep the music playing though.

If you are a ship's officer, please move calmly and quietly to the life boats. Do not put your life jacket on until you are free of the ship and safely out to sea. There's no reason to create a panic.

May 22, 2009
Starbucks bails out some employee stock options

Because the company’s share price has significantly dropped in the past year, officials at Starbucks Corp. are giving employees with stock options a chance to swap out their “underwater” options.